Glen Elm Trailer Court residents at the end of their rope, with more evictions scheduled
WATCH: A group of residents of the Glen Elm Mobile Home community have made another offer to purchase the property. Jacob Carr reports.
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Globe and Mail
27 minutes ago
- Globe and Mail
Billionaire Stanley Druckenmiller Sold Palantir and Amazon and Is Piling Into This Artificial Intelligence (AI) Stock Instead
Back in 2022, billionaire Stanley Druckenmiller made a sizable bet on chipmaker Nvidia. The company has gone on to become one of the biggest winners of advancements in generative AI, for which its graphics processing units (GPUs) are well suited. Druckenmiller has also been an investor in Palantir Technologies (NASDAQ: PLTR), which has used AI to improve its software and expand its market. Druckenmiller has also made a lot of money by investing in Amazon (NASDAQ: AMZN) throughout his career, taking advantage of the cloud computing leader's growth. But Druckenmiller is shifting his attention and his money away from these AI giants. He sold out of Nvidia about a year ago (although he says he regrets that decision). In the first quarter, he got rid of his remaining shares of Palantir and trimmed his Amazon investment by more than half. In their place, he's buying a different company that stands to benefit from continued spending on AI development but whose stock looks undervalued. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Why Druckenmiller is selling Palantir and Amazon Both Amazon and Palantir are producing strong results as enterprise customers spend heavily on AI software and development. Palantir has seen its U.S. commercial business take off thanks to its Artificial Intelligence Platform (AIP). Businesses are expanding their use cases for AIP, and the service is reducing the need for clients to hire new workers. That has helped Palantir grow revenue extremely quickly without much overhead, resulting in strong earnings growth. Amazon remains the largest public cloud platform in the world with Amazon Web Services (AWS). The company is seeing strong demand for AI services on AWS, and it's spending as quickly as it can to meet that demand, including plans to pour over $100 billion into capital expenditures (mostly for AWS) in 2025. The operating margin for AWS has soared to nearly 40%, pushing Amazon's operating profits considerably higher. But Druckenmiller's decision to reduce his stake in these companies seems to be based purely on valuation. Indeed, Palantir is one of the most expensive stocks on the market trading at over 75 times management's 2025 revenue outlook. Druckenmiller has also traded in and out of Amazon stock based on price, and shares reached an all-time high of more than $240 per share last quarter. With all that in mind, it appears Druckenmiller has found a suitable replacement in the AI space that offers exceptional value at its current price. Here's the AI stock Druckenmiller is piling into With hyperscalers like Amazon committing to investing billions of dollars per year in AI data centers, the growth in AI spending seems to be far from over. One company stands behind practically all of the silicon chips you'll find in those data centers: Taiwan Semiconductor Manufacturing (NYSE: TSM), or TSMC. TSMC is the leading chip manufacturer in the world, commanding a dominant share of the market. Its lead is cemented by the best-in-class technology required for making the most cutting-edge chips. That's why companies like Nvidia choose TSMC to print and package its chips. Using another manufacturer would likely result in a higher cost with an inferior product. TSMC benefits from a virtuous cycle. It's the largest chip manufacturer in the world, which means it brings in a ton of revenue. It can, therefore, invest more in research and development and capital expenditures to maintain its technological lead and ensure enough capacity to meet growing demand. That, in turn, brings in more revenue. That said, chip fabrication is a capital-intensive, cyclical business. If demand falls, TSMC is still responsible for maintaining its expensive equipment, even if it's not producing as many chips. The good news for investors is that TSMC also expects strong growth in AI spending through the end of the decade. Management believes AI-related revenue will double this year, and the company could produce a compound annual growth rate of close to 40% for AI chips through 2029. Overall, management is guiding for 20% compound annual growth for the entire business. Revenue is up over 43% year over year through the first four months of 2025. Despite the potential for strong revenue growth over the next five years with excellent gross and operating margin profiles, the stock trades for less than 21 times forward earnings estimates. There's a reason to discount the stock somewhat, given the ongoing global trade war launched by the Trump Administration and the geopolitical risk surrounding Taiwan. But the current valuation still looks extremely attractive for investors, and Druckenmiller seems to agree. Druckenmiller tiptoed into the stock in the second half of last year, investing about $20 million, but he more than quintupled his investment in the first quarter, making it one of his biggest holdings. With TSMC's share price sitting around where it started the year, there is still an opportunity to join Druckenmiller with an investment in TSMC. Should you invest $1,000 in Taiwan Semiconductor Manufacturing right now? Before you buy stock in Taiwan Semiconductor Manufacturing, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Taiwan Semiconductor Manufacturing wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $656,825!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $865,550!* Now, it's worth noting Stock Advisor 's total average return is994% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Adam Levy has positions in Amazon and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Amazon, Nvidia, Palantir Technologies, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
Globe and Mail
27 minutes ago
- Globe and Mail
Chevron Layoffs 2025: Should You Buy, Sell, or Hold the Dividend Stock Amid Its 20% Workforce Reduction?
Chevron's (CVX) decision to cut 20% of its workforce in 2025, recently impacting 800 employees in the Permian Basin region, comes at a tough time for the company. Chevron's stock has lagged behind its peers over the past year The bigger picture isn't much steadier. Oil prices have been unstable, with the EIA expecting Brent crude (CBQ25) to average $74 a barrel in 2025, down from $81 in 2024. At the same time, U.S. crude production is set to hit a record 13.6 million barrels per day this year. Potential supply-demand imbalances and changing trading patterns are weighing on Chevron and its peer energy stocks. Chevron's layoffs and focus on cutting costs show how urgently big oil and gas companies need to adjust as the sector changes. Chevron's dividend yield is still around 5%, but its debt is climbing as it keeps paying dividends and buying back shares even though free cash flow is shrinking. This puts Chevron shareholders at a crossroads: Is now the time to buy, sell, or hold this well-known dividend stock as it reshapes itself for what's next in energy? Let's find out. Chevron's Financial Pulse Amid Layoffs Chevron (CVX) is one of the world's largest energy companies, working across the entire oil and gas process, from finding and producing oil and gas, to refining it into products like gasoline, and selling those products to customers. The recent performance in Chevron's stock shows just how much pressure the company is under. Over the last 52 weeks, shares have dropped 11.1%. So far this year, the decline has continued, with the stock down 3.3%. Looking at the stock's valuation, Chevron trades at a forward price-earnings ratio of 19.95x, much higher than the sector average of 11.85x. This means investors are still willing to pay more for Chevron's size, stability, and future projects. Chevron's latest financial results were mixed. In the first quarter of 2025, earnings fell sharply to $3.5 billion, down 36% from the year before, and revenue dropped to $47.6 billion, which missed what analysts were expecting. Adjusted earnings per share came in at $2.18, just above forecasts, but the numbers were dragged down by legal costs, tax charges, and currency issues. Still, Chevron managed to keep its cash flow strong and returned $6.9 billion to shareholders, showing it remains focused on rewarding investors and managing its money carefully. What's Driving Chevron's Future Growth? Chevron's growth in 2025 isn't just about layoffs and cutting costs. The company recently started producing oil from its Ballymore project in the deepwater Gulf of Mexico, which Chevron now acknowledges as the Gulf of America. Ballymore is expected to add up to 75,000 barrels of oil a day, which will help Chevron move closer to its goal of reaching 300,000 net barrels a day from the Gulf by 2026. Chevron is also looking beyond oil. It has teamed up with Engine No. 1 and GE Vernova (GEV) to supply natural gas power to new U.S. data centers. This project aims to deliver up to 4 gigawatts of reliable energy and is built to be flexible for future carbon capture and renewable upgrades. With the boom in artificial intelligence and digital infrastructure, this partnership could bring in new sources of revenue as demand for data centers grows. For investors who care about steady income, Chevron's dividend stands out. The company has increased its payout for 38 years in a row. The latest quarterly dividend is $1.71 per share, with a yield around 5%, which is higher than the sector average of 4.24%. The payout ratio is just over 71%, which is on the higher side, but it shows Chevron's confidence in its ability to keep paying even in a tough market. Analyst Sentiment and the Road Ahead Analysts are taking a careful approach with Chevron as the company works through job cuts and changes to its strategy. Out of 22 analysts, most rate the stock as a 'Moderate Buy,' with an average price target of $161.59. That's about 15% higher than the current price. Warren Buffett's Berkshire Hathaway (BRK.B) still owns 6.8% of Chevron's shares, which is another strong signal for investors. Still, some analysts are cautious. They point to falling cash flow, growing debt, and concerns about how much more Chevron can get out of its shale operations. Conclusion Chevron's sweeping layoffs and recent stock slump might make investors uneasy, but the company's deepwater projects, bold moves into data center power, and unwavering dividend track record keep it firmly in the game. While the road ahead looks bumpy, analysts see decent upside, and Chevron's fundamentals still point to resilience. For those who already hold shares, patience may yield rewards; for new investors, it's a classic scenario of balancing short-term volatility against long-term prospects.
Globe and Mail
an hour ago
- Globe and Mail
Prediction: Tesla Stock Won't Recover in 2025 (And Insiders Seem to Agree)
Between Tesla (NASDAQ: TSLA) failing to meet the deadlines that Elon Musk sets and Musk's decision to split his time at Tesla with various other endeavors, many investors are losing confidence and questioning whether the stock can recover from its plunge in 2025. But the actions of Tesla insiders are providing a clear indication. Two insiders have sold company stock -- a development that represents a glaring yellow light for those with shares of Tesla parked in their portfolios. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Some see Tesla stock powering ahead From Cathie Wood, who thinks Tesla stock will soar to $2,600 over the next five years, to analysts at Wedbush, which has a $500 price target, plenty see Tesla stock driving in the right direction. Some (like Wood) think the launch of Tesla's Robotaxi business, a fully autonomous ride-hailing network, will be a considerable boon for the company. Musk claims the company is making steady progress toward launching the service, providing some insight in a recent post on X: For the past several days, Tesla has been testing self-driving Model Y cars (no one in driver's seat) on Austin public streets with no incidents. A month ahead of schedule. Next month, first self-delivery from factory to customer. -- Elon Musk (@elonmusk) May 29, 2025 Others are encouraged by the news that Musk has chosen to refocus his attention on Tesla. Shares jumped on Thursday morning, for example, after investors learned that Musk had announced that he will be stepping back from his role in the Trump administration. Bulls see the road ahead through a rose-colored windshield At this point, I'm unconvinced of the bulls' viewpoint. The argument that the company's Robotaxi business will soon drive significant growth seems overblown. While the company has started testing driverless Robotaxis in Austin, there has been significant damage to the Tesla brand, and customers' eagerness to embrace Tesla's Robotaxi service doesn't seem as strong a possibility as it did just last year. Plus, there is stiff competition from companies providing their own self-driving taxi services. In addition to Alphabet 's (NASDAQ: GOOG)(NASDAQ: GOOGL) Waymo and General Motors ' (NYSE: GM) Cruise, Tesla faces competition from private companies like Wayve. Another pothole in Tesla's road to recovery is the company's declining deliveries. In Q1 2025, Tesla reported deliveries of 336,681 vehicles, representing a 13% year-over-year decline. While there have been court rulings deeming President Trump's tariffs unlawful, it's not clear what the future will bring. Also, customer demand may have been diverted by other electric car options. These insiders aren't convinced Tesla's charging forward either Investors look all over for insight, but one thing they're particularly sensitive to is the trading activity of company insiders. When insiders buy stock, for instance, it's a pretty clear indication that they expect shares to rise in the near future. On the other hand, when they sell stock, it may mean that they see shares dipping in the near future. Two prominent insiders have chosen to sell significant stakes of Tesla stock this week. Ira Ehrenpreis, who has served on the board of directors since 2007, sold 477,572 shares in a transaction valued at about $162,059,282, and Kimbal Musk, Elon's brother and one of the largest individual Tesla shareholders, sold 91,588 shares, totaling about $31,079,472. Neither Ehrenpreis nor Kimbal Musk has offered an explanation, but it's possible the Robotaxi service isn't in such good shape as Elon suggests. Is it a good time to hitch a ride with Tesla stock? For some, there's not much more reading of tea leaves needed. Tesla's falling sales, the uncertainty around its Robotaxi service, and the recent insider transactions are all the material they need to decide it's best to watch Tesla stock from the side of the road. For those still on the fence, there's also the stock's price tag. Shares are changing hands at 185 times forward earnings, a steep premium to the five-year average P/E of seems clear that it's best to keep Tesla stock at arm's length for the time being. Don't miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $366,219!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,589!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $656,825!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon. See the 3 stocks » *Stock Advisor returns as of June 2, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Tesla. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.
